The Office of Fair Trading has until 7 February to make a decision about Granada’s submission for consent to merge with either Carlton Communications or United News & Media. As the media group sought initial permission from the regulator before making a bid, the OFT has to make a decision within a given deadline.
Granada submitted its letter seeking approval to make a bid proposal last week (see Granada Poised To Bid For Rivals) to safeguard its interests in the light of the proposed merger bid by its rival Carlton and United (see Carlton And United News & Media Set For £7.8bn Merger). Under OFT rules a company which asks permission prior to launching a bid must receive an answer from the regulator within 20 working days. This can be extended for review for a further 15 days after which a decision must be passed to the Department of Trade & Industry for a final decision.
Carlton and United, however, may still be awaiting a reply from the regulator by this date, as they failed to pre-notify the OFT of their plans to merge.
Office of Fair Trading: 020 7211 8000
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